Bank of New York Mellon Corp increased its stake in Graham Corp. (NYSE:GHM) by 5.3% during the second quarter, Holdings Channel reports. The institutional investor owned 66,653 shares of the company’s stock after buying an additional 3,331 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Graham Corp. worth $1,227,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Graham Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 60,764 shares of the company’s stock valued at $1,209,000 after buying an additional 1,134 shares during the last quarter. Springbank Value Partners LP increased its position in Graham Corp. by 6.7% in the first quarter. Springbank Value Partners LP now owns 16,000 shares of the company’s stock valued at $319,000 after buying an additional 1,000 shares during the last quarter. Value Holdings LP increased its position in Graham Corp. by 21.9% in the first quarter. Value Holdings LP now owns 38,060 shares of the company’s stock valued at $758,000 after buying an additional 6,844 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Graham Corp. by 7.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,018 shares of the company’s stock valued at $239,000 after buying an additional 875 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in Graham Corp. during the first quarter valued at $159,000. 74.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Graham Corp. (NYSE:GHM) traded down 0.88% during trading on Thursday, reaching $19.08. 2,573 shares of the company traded hands. The company’s 50-day moving average price is $18.94 and its 200-day moving average price is $18.72. Graham Corp. has a 52 week low of $14.39 and a 52 week high of $21.09. The company has a market capitalization of $185.32 million, a P/E ratio of 48.92 and a beta of 1.38.
Graham Corp. (NYSE:GHM) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. Graham Corp. had a net margin of 4.55% and a return on equity of 3.77%. The company had revenue of $22 million for the quarter, compared to the consensus estimate of $20.35 million. During the same period in the prior year, the firm posted $0.23 EPS. Graham Corp.’s revenue for the quarter was down 19.0% on a year-over-year basis. Equities research analysts forecast that Graham Corp. will post $0.31 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Graham Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd.
In other Graham Corp. news, CAO Jennifer R. Condame sold 4,974 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $18.10, for a total transaction of $90,029.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
About Graham Corp.
Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.